URGENT: Nikkei briefly plunges 3% on worries over fuel cost surge

Economy

The Nikkei stock index extended its losses Monday morning, briefly dropping over 3 percent, amid concerns over higher fuel costs as the United States and its European partners are reportedly eying a ban on the import of Russian oil due to Moscow's invasion of Ukraine. At 10 a.m., the 225-issue Nikkei Stock Average fell 736.82 points, or 2.84 percent, from Friday to 25,248.65, before reaching its lowest intraday level since Nov. 10, 2020. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 50.56 points, or 2.74 percent, at 1,794.38. Growing demand for gold a...

Kyodo News

Kyodo News